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No disallowance shall be made u/s 14A r.w.r 8D I.T Rule if assessee not earned any exempt income previous year relevant to assessment year: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Delhi bench held that no disallowance should be made Under Section 14A read with section 8D of Income Tax...

No Requirement to Demonstrate Commercial Expediency in Each Year Concerning Loan Taken in Particular...

Allegations of Undisclosed Income did not form Part of Notice: Delhi HC sets aside Income Tax Notice...

Assessing officer cannot make Second Assessment on Same Issue on Same Assessment Year: ITAT [Read...

Persistent Loss Filter can be Applied only if there is Loss in Three Successive Assessment Years:...

Re-Assessment Notice Issued After Four Years of Relevant AY: ITAT quashes Order u/s 147 [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai Bench, has recently, in an appeal filed before it, on finding that the re-assessment notice was issued after four years of the relevant AY, quashed...

Search Conducted within 6 Preceding Years of Relevant AY: ITAT Upholds Income Tax Proceedings u/s 153C [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, with regard to a search conducted within 6 preceding years of the relevant AY, upheld the Income Tax...

Claim of FTC can't be disallowed merely on delay in filing Form 67: ITAT [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the Claim of Foreign Tax Credit( FTC) can't be disallowed merely on delay in filing Form 67. Tom Thomas, the...

ITAT allows TDS Credit for Assessment Year for Which Income is Assessable [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) allowed TDS Credit for the assessment year for which income is assessable. Prakash Sunrise Healthcare Limited, the assessee is carrying...

TDS Credit shall be given for the Assessment Year for which Income is Assessable: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that TDS credit shall be given to the deductee for the assessment year for which such income is assessable under the Income Tax Act,...

Year of substantial expansion is initial Assessment Year within 10 years for claiming Deduction u/s 80-IC: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that there can be two initial assessment years and the year in which there was substantial expansion that year is the initial assessment...

Deletion of Disallowance u/s 40(a) not valid in the Absence of Verification on Inclusion of Amount in Income: ITAT [Read Order]

The Income Tax Appellate Tribunal Ahmedabad “C” Bench has recently, while allowing an appeal filed by the Revenue, held that deletion of disallowance under section 40(a) is not valid in the absence...

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